Sales Statistics For Marijuana in Colorado
May was a big month for the Colorado marijuana industry and not for the fact that $127.7 million dollars were spent on flowers, edibles, and concentrates purchased in May from the state’s marijuana shops. May marked the 12th consecutive month that Colorado marijuana sales have topped $100 million.
Out of the 12 months, March had the highest amount of monthly sales resulting in $131.7 million according to Colorado’s marijuana tax data. Not to mention recreational sales have consistently accounted for two-thirds of the monthly totals. For example, out of the May sales around $90.2 million were for recreational-use, while $37.5 million was for medical.
Bethany Gomez, director of research for Brightfield Group, a market research firm focused on the cannabis industry said, “What we’re seeing in Colorado is an increase of cannabis as a lifestyle and a component of a wellness lifestyle.”
Now that weed is legal and people no longer have to buy it on the black market, more people are integrating cannabis into their lifestyles. Whether they are using it for chronic back pain or to substitute it for alcohol, the sales continue to rise.
“There is increased innovation in the product category, and that’s continuing,” she said. “Consumption patterns haven’t really settled in the recreational market yet; people are still experimenting. There is still a lot of room for change there.”
Whether or not the Colorado marijuana industry will continue to produce over $100 million months is up to cannabis consumers and the industry itself. We will keep an eye on it and hope it continues to grow.